| TO: | Honorable Steve Ogden, Chair, Senate Committee on Finance |
| FROM: | John S. O'Brien, Director, Legislative Budget Board |
| IN RE: | SJR14 by Patrick, Dan (Proposing a constitutional amendment to authorize the legislature to limit the maximum average annual increase in the appraised value of a residence homestead for ad valorem tax purposes to three percent or more.), As Introduced |
The cost to the state for publication of the resolution is $77,468.
The resolution would propose an amendment to Article VIII of the Texas Constitution to authorize the Legislature to limit the maximum average annual percentage increase in the appraised value of a residence homestead for ad valorem taxation purposes to three percent or a greater percentage.
The current constitutional limitation is 10 percent, or a greater percentage, in the appraised value of residence homesteads.
The proposed amendment alone would have no fiscal impact on the state or units of local government. Any fiscal impact would be contingent upon the corresponding enabling legislation.
The proposed amendment would be submitted to the voters at an election to be held November 6, 2007.
| Source Agencies: | 304 Comptroller of Public Accounts
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| LBB Staff: | JOB, CT, SD, SJS
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